Ron Guth:
The 1856-S Half Dollar is inherently scarce because of its low mintage, but it is even more rare because collectors saved precious few examples back in the year of issue. A quick look at the PCGS Population Report indicates just how few Mint State 1856-S Half Dollars have survived. Most grade in the low to middle range, with only one or two examples better than MS63. The strike quality on this date is generally strong. At least one of the PCGS MS64 examples shows some streaking of the planchet caused by improper mixing of the metal alloy, but this appears to be rare (since this was only the second year of production at the San Francisco Mint, perhaps some minor glitches can be forgiven).